Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The US unemployment rate has fallen to its lowest level in nearly three years, giving the economy a boost at the end of 2011.
The Labour Department said employers added a net 200,000 jobs last month and the unemployment rate fell to 8.5%, the lowest since February 2009.
The rate has dropped for four straight months.
The hiring gains cap a six-month stretch in which the economy generated 100,000 jobs or more in each month. That has not happened since April 2006.
"There is no question that today's employment report is a positive and there is also no question that the pace of job growth has accelerated of late," said Dan Greenhaus, an analyst at BTIG LLC, a brokerage firm
A better job market is a positive sign for President Barack Obama, who is bound to face voters with the highest unemployment rate of any sitting president since the Second World War.
Unemployment was 7.8 % when Obama took office in January 2009.
For all of 2011, the economy added 1.6 million jobs, better than the 940,000 added in 2010. The unemployment rate averaged 8.9% last year, down from 9.6% the previous year.
Economists forecast that the job gains will top 2.1 million this year.
The December report painted a picture of a broadly improving job market. Average hourly pay rose, providing consumers with more income to spend. The average work week lengthened, a sign that business is picking up and companies may soon need more workers.
And hiring increased across most major industries.
AP
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments